Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Holdings Lessened by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. reduced its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 88.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,037 shares of the company's stock after selling 31,340 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Travere Therapeutics were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC increased its holdings in Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company's stock valued at $70,000 after acquiring an additional 3,065 shares in the last quarter. DRW Securities LLC purchased a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $95,000. Forefront Analytics LLC raised its position in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company's stock worth $109,000 after purchasing an additional 1,237 shares during the last quarter. Sei Investments Co. purchased a new stake in Travere Therapeutics in the 2nd quarter valued at approximately $117,000. Finally, Quest Partners LLC grew its holdings in Travere Therapeutics by 240.6% during the 2nd quarter. Quest Partners LLC now owns 14,336 shares of the company's stock valued at $118,000 after buying an additional 10,127 shares during the last quarter.

Travere Therapeutics Trading Down 1.0 %

TVTX traded down $0.19 during trading on Friday, hitting $19.22. 995,722 shares of the company's stock were exchanged, compared to its average volume of 1,282,334. The stock has a 50 day moving average price of $17.66 and a 200 day moving average price of $12.28. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $20.33. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm has a market cap of $1.50 billion, a P/E ratio of -4.22 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm's quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.17) EPS. As a group, analysts expect that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America increased their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Citigroup lowered their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating for the company in a report on Friday, September 27th. Piper Sandler raised their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Guggenheim boosted their price target on Travere Therapeutics from $23.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, HC Wainwright lowered their price objective on Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.62.

Insider Buying and Selling

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the sale, the chief executive officer now owns 361,975 shares in the company, valued at $4,169,952. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,283 shares of company stock valued at $1,720,670. Corporate insiders own 3.75% of the company's stock.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.